Agnico Eagle Mines (NYSE:AEM) Downgraded by Wall Street Zen to “Buy”

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) was downgraded by equities researchers at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report issued on Saturday.

AEM has been the topic of several other research reports. TD Securities boosted their price target on shares of Agnico Eagle Mines from $241.00 to $251.00 and gave the stock a “buy” rating in a research report on Tuesday, March 3rd. Zacks Research cut shares of Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. JPMorgan Chase & Co. cut their price objective on shares of Agnico Eagle Mines from $248.00 to $235.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 18th. Erste Group Bank cut shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research report on Tuesday, March 24th. Finally, Weiss Ratings cut shares of Agnico Eagle Mines from a “buy (a-)” rating to a “buy (b)” rating in a research report on Monday, January 12th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $232.18.

Agnico Eagle Mines Trading Up 1.0%

Shares of AEM opened at $218.68 on Friday. The company’s fifty day moving average is $212.59 and its 200 day moving average is $187.95. Agnico Eagle Mines has a fifty-two week low of $103.38 and a fifty-two week high of $255.24. The stock has a market capitalization of $109.57 billion, a PE ratio of 24.63 and a beta of 0.71. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 2.02.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings results on Thursday, February 12th. The mining company reported $2.69 earnings per share for the quarter, topping the consensus estimate of $2.56 by $0.13. Agnico Eagle Mines had a net margin of 37.47% and a return on equity of 18.09%. The company had revenue of $3.53 billion for the quarter, compared to analysts’ expectations of $3.40 billion. During the same quarter in the previous year, the business posted $1.26 earnings per share. Agnico Eagle Mines’s quarterly revenue was up 60.3% on a year-over-year basis. Sell-side analysts expect that Agnico Eagle Mines will post 4.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. McAlvany Wealth Management LLC bought a new position in shares of Agnico Eagle Mines in the fourth quarter worth about $6,288,000. Up Capital Management Inc. purchased a new position in Agnico Eagle Mines in the 4th quarter worth about $342,000. Purpose Unlimited Inc. purchased a new position in Agnico Eagle Mines in the 4th quarter worth about $581,000. Rockefeller Capital Management L.P. increased its stake in Agnico Eagle Mines by 99.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 37,051 shares of the mining company’s stock worth $6,281,000 after buying an additional 18,486 shares during the period. Finally, World Investment Advisors increased its stake in Agnico Eagle Mines by 23.1% in the 4th quarter. World Investment Advisors now owns 5,389 shares of the mining company’s stock worth $914,000 after buying an additional 1,010 shares during the period. Institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited (NYSE: AEM) is a Canadian-based senior gold producer headquartered in Toronto, Ontario. The company is principally engaged in the exploration, development, production and reclamation of gold-bearing properties. Agnico Eagle pursues both greenfield and brownfield exploration to expand its resource base and operates a portfolio of producing mines and development projects to generate long-life gold production.

Its core business activities span the full mining lifecycle: grassroots and advanced-stage exploration, prefeasibility and feasibility studies, mine construction, underground and open-pit mining, ore processing and metal recovery, and post-mining reclamation and closure.